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Baker Avenue Asset Management LP Invests $226,000 in Howmet Aerospace Inc. (NYSE:HWM)

Howmet Aerospace logo with Aerospace background

Key Points

  • Baker Avenue Asset Management LP has acquired a new position in Howmet Aerospace, purchasing 1,743 shares valued at about $226,000.
  • Howmet Aerospace's quarterly dividend has been increased from $0.10 to $0.12 per share, with a dividend yield of 0.3%.
  • Multiple analysts have upgraded Howmet Aerospace, with more than 15 firms currently giving the stock a buy rating and a consensus price target of $160.80.
  • Five stocks to consider instead of Howmet Aerospace.

Baker Avenue Asset Management LP purchased a new position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,743 shares of the company's stock, valued at approximately $226,000.

Several other institutional investors have also made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new stake in Howmet Aerospace in the fourth quarter valued at approximately $25,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Howmet Aerospace in the fourth quarter worth $30,000. GPS Wealth Strategies Group LLC increased its position in Howmet Aerospace by 114.6% during the first quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock worth $34,000 after acquiring an additional 141 shares during the period. Wayfinding Financial LLC bought a new position in Howmet Aerospace during the first quarter worth $37,000. Finally, Wood Tarver Financial Group LLC bought a new position in Howmet Aerospace during the fourth quarter worth $39,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $158.53, for a total value of $4,755,900.00. Following the sale, the executive vice president directly owned 131,859 shares in the company, valued at $20,903,607.27. This trade represents a 18.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John C. Plant sold 800,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $156.96, for a total value of $125,568,000.00. Following the sale, the chief executive officer directly owned 236,544 shares of the company's stock, valued at approximately $37,127,946.24. The trade was a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.12% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HWM. Morgan Stanley boosted their price target on shares of Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Truist Financial upped their target price on shares of Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Howmet Aerospace in a report on Monday, June 30th. Susquehanna upped their target price on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock a "positive" rating in a report on Monday, July 14th. Finally, Northcoast Research raised shares of Howmet Aerospace from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Howmet Aerospace has an average rating of "Moderate Buy" and a consensus price target of $172.13.

Get Our Latest Analysis on Howmet Aerospace

Howmet Aerospace Trading Up 1.5%

Howmet Aerospace stock traded up $2.66 during trading hours on Wednesday, reaching $181.98. 2,016,129 shares of the company's stock traded hands, compared to its average volume of 3,094,372. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.08 and a current ratio of 2.31. Howmet Aerospace Inc. has a fifty-two week low of $87.64 and a fifty-two week high of $193.26. The firm has a market capitalization of $73.36 billion, a price-to-earnings ratio of 53.21, a PEG ratio of 2.56 and a beta of 1.48. The firm's 50 day moving average is $178.86 and its 200-day moving average is $150.10.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Howmet Aerospace had a net margin of 18.09% and a return on equity of 28.17%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the company posted $0.67 EPS. The company's revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be given a $0.12 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.10. Howmet Aerospace's dividend payout ratio is 11.70%.

Howmet Aerospace Company Profile

(Free Report)

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.

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Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

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